Full Documentation
Our popular, high loan-to-value (“LTV”) program considers business and personal income, as well as
traditional property income, and is designed for business owners with commercial property at least 25%
owner-occupied. Borrower provides a completed full documentation loan application and a complete set
of supporting documents, including:
- 2 years personal and business and tax returns and current interim business fi nancial statements
- Credit reports
- A/R & A/P agings
- Debt schedules
- Other applicable docs
| Program Highlights |
| Max 1st Mortgage loan amount |
|
$5,000,000 |
| Purchases to |
|
90% LTV |
| Refi nance to |
|
85% LTV |
| Cash out to |
|
75% LTV |
| Combined LTVs to |
|
90% |
| Targeted DSCR of |
|
1.2:1 based on combined income sources |
Qualifying Parameters
- Minimum 600 average credit score and individual score(s)
- For loans where both the owner occupancy is less than 50% and the amount is $3,000,000
or more, appraisal supports a minimum 1:1 DSCR based on property net operating income
Program Options
- Preferred pricing for larger loans and lower LTV loans
- Fully Amortizing 30-year term
- No call provisions or balloon payments
- Multiple prepayment penalty options
- Ability to prepay up to 20% of principal within any rolling 12-month period
without prepayment premium